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Indian Auto Industry May Contribute 12 percent to Country's GDP : Union Minister

The government is promoting the use of electric vehicles under FAME India Scheme, as it would help the government to reduce the dependency on oil imports.

PTI

Updated:May 19, 2017, 11:14 AM IST
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Indian Auto Industry May Contribute 12 percent to Country's GDP : Union Minister
Allowing the use of private cars as taxis would improve the supply of vehicles at a low cost, say analysts. (Photo: Reuters)
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India's automobile industry is likely to contribute 12 percent to the country's GDP over the coming decade, from 7.1 percent at present, Union Minister Anant Geete said yesterday at the inauguration of a test track facility developed by Global Automotive Research Centre.

The commissioning of the facility is expected to invite greater investment in automotive and automotive components, Geete said. The heavy industry minister expressed confidence that these facilities will attract many more major players from the automotive industry to set up facilities in Tamil Nadu. The Global Automotive Research Centre (GARC) Chennai is a body working under the NATRiP (National Automotive Testing & R&D Infra Project).

"Indian automotive sector plays a very important role in the country's manufacturing sector and is likely to contribute 12 percent to the country's GDP over the next decade," Geete said.

Also Read: Skoda Karoq Unveiled Globally, To Sit Below the Kodiaq SUV

India's two-wheeler industry recently became the largest market in the world, replacing China. He said the government is also looking forward to adopting new and different ways to promote clean, safe, cheap and futuristic mobility services, which will help in the creation of jobs in research, development and manufacturing sector.

The government is promoting the use of electric vehicles under FAME India Scheme, as it would help the government to reduce the dependency on oil imports, Geete said.

According to a report of NITI Aayog, India can reduce energy demand by 64 percent and carbon emissions by 37 percent with the help of connected, shared and electric passenger mobility across the country.

The GARC located in the southern auto-cluster of the country is now notified under the Central Motor Vehicle Rules, 1989 to issue test certificates for homologation. The facilities are expected to be used by the automotive original equipment manufacturers and component manufacturers for homologation and research & development.

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